Singapore billionaire Peter Lim has increased his offer to buy Liverpool to £320million.

The club’s current co-owners are attempting to block the club’s proposed sale to John W Henry’s New England Sports Ventures company by claiming Liverpool’s chairman Martin Broughton did not have the legal authority to broker a deal.

Hicks and Gillett favour Lim’s offer as it would reduce the huge financial loss the Americans are set to incur and the 57-year-old has renewed his attempts to take charge of the club.

“The offer values the club at £320 million pounds. A further £40 million pounds will be made available to purchase new players,” said a statement issued by his publicists.

“The new offer is entirely in cash and will remove the entire acquisition debt of £200 million pounds taken on by the existing owners that has cast uncertainty over the club’s future.”

A spokesman for Tulchan PR, representing Lim in London added: “Mr Lim hopes the case results in a chance for him to be able to present an offer to the club and have it given a fair hearing.”

Lim, whose previous bid for Liverpool was rejected in favour of New England’s, has an estimated net worth of $1.6bn (£1bn), according to Forbes magazine.

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